Tuesday, September 26, 2023

Top Most Virtual Bookkeeping Service for Medium Size Businesses

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David Adam
David Adamhttps://hireaccountantnow.com/personal-tax-services/
My name is David Adam , and I'm a skilled accountant and bookkeeper with 10 years of experience in the field. I specialize in accounting and Bookkeeping, and I'm committed to helping individuals and small businesses manage their finances with accuracy and precision.

Are you searching for a remote bookkeeping service to alleviate the burden of managing your small business’s monthly financials and potentially other financial tasks such as payroll, accounts payable (AP), accounts receivable (AR), and more?

As a business owner, handling your bookkeeping, collaborating with a freelance bookkeeper, or engaging with a traditional bookkeeping firm can be demanding.

If you manage it yourself, you’re dedicating valuable monthly hours that could be better spent on crucial aspects of business growth. As your business reaches a certain level of development, self-bookkeeping may no longer be a practical choice.

Hiring a freelance bookkeeper may present challenges, including potential communication issues and limited availability due to serving multiple clients simultaneously. While some business owners successfully navigate this arrangement, it still requires effort and coordination.

Alternatively, selecting a conventional bookkeeping firm might expose you to corporate processes, sluggish communication, outdated pay-by-the-hour pricing models, and a lack of expertise in online businesses. For instance, if you operate an e-commerce venture and engage a local, traditional bookkeeper, you may encounter a dearth of experience in eCommerce-specific nuances, making it challenging to secure the most suitable bookkeeping services for your small business.

Best Virtual Bookkeeping Service for Medium Business


EcomBalance offers a specialized virtual bookkeeping service tailored exclusively for the dynamic e-commerce sector. Established in 2021 by entrepreneurs Nathan Hirsch and Connor Gillian, the company is driven to develop the ultimate bookkeeping solution for e-commerce sellers, agencies, software providers, coaches, and consultants.

What sets EcomBalance apart is that its founders, Nathan and Connor, are seasoned entrepreneurs, not traditional bookkeepers. With a combined track record of generating over $25 million in sales on Amazon, they successfully founded and expanded FreeUp into an eight-figure enterprise, which was acquired in 2019 by the HOTH. Drawing insights from interviews with over 100 business owners, they embarked on a mission to revolutionize the bookkeeping landscape within the e-commerce domain.

EcomBalance is a product of entrepreneurs’ ingenuity and is bolstered by the expertise of e-commerce-focused bookkeepers.


Pilot provides a suite of financial services, encompassing bookkeeping, tax management, and Chief Financial Officer (CFO) support, specially designed to cater to the needs of burgeoning enterprises. With a particular focus on startups, consumer and retail businesses, and service-oriented enterprises, Pilot was established in 2016 and has secured significant funding totaling over $150 million. Key investors in Pilot’s growth journey include names like Sequoia, Index Ventures, Stripe, Bezos Expeditions (Jeff Bezos’s investment firm), and Whale Rock. Operating from its headquarters in San Francisco, Pilot is poised to empower businesses with robust financial solutions.


Xenon is your go-to online bookkeeping and tax team, allowing you to focus on your passion. Founded in 2016 by Lil Roberts, Xenon is dedicated to bestowing small business owners with the gift of financial peace of mind. With a wide range of offerings, Xenon provides its clients bookkeeping, tax management, and catch-up services.

Beyond its services, Xenon offers a robust platform designed to enhance the bookkeeping experience for its clients. This platform facilitates seamless interaction with financial records, streamlining the process for clients and the Xenon bookkeeping team through a tech-savvy approach.

Read more: Exploring Home Finance Options: A Complete Overview


Bench proudly stands as the outstanding, experienced bookkeeping service in the United States. Established in 2012, Bench has accomplished remarkable growth, amassing over $100 million in funding to become a dominant force in the bookkeeping industry. Beyond its core offering of monthly bookkeeping, Bench extends its expertise to encompass tax filing, Catch-up work, and Clean-up work for its clients.

What sets Bench apart from most other bookkeeping services on this list is its reliance on its proprietary accounting software. Bench mandates that its clients utilize their in-house accounting software rather than conventional tools like QuickBooks Online and Xero. This unique approach underscores Bench’s commitment to providing its valued clientele with a tailored, streamlined, and highly efficient bookkeeping experience.


Bookkeep was established and owned by Cyndi Thomason. Specializing in the Profit First approach she designed for e-commerce sellers, Cyndi coaches eCommerce businesses so they can initiate a company that authorizes them to enjoy financial freedom through enduring profitability. The Bookkeep team is driven by US-based e-commerce bookkeepers specializing in the Profit First methodologies.

KPMG Spark

KPMG Spark is your gateway to online accounting that qualifies you to consolidate on what truly counts– your business. As a client, you gain access to a dynamic real-time accounting dashboard, the unwavering support of your dedicated bookkeeper, a streamlined and user-friendly onboarding process, and a comprehensive suite of supplementary services, including payroll management, invoicing, and more.

KPMG Spark stands as a remote accounting service, leveraging the formidable resources of its parent company, KPMG, a renowned leader in Audit and Tax-related services. This affiliation ensures that clients receive top-tier expertise and reliability regarding their financial needs.

Bean Ninjas

Distinguished as your trusted “e-commerce growth consultants,” Bean Ninjas is a comprehensive financial service provider catering to 7 and 8-figure e-commerce enterprises. Established in 2015 by Meryl Johnston with a visionary mission to revolutionize the remote bookkeeping industry, the company secured a round of funding in 2017 and has maintained steady growth since its inception.

Bean Ninjas extends its expertise to businesses in the United States, Europe, and Australia, boasting specialized groups tailored to the outstanding conditions of their regions. Beyond traditional bookkeeping, their comprehensive services encompass accounting, Chief Financial Officer (CFO) support, and expert tax assistance, making them an invaluable partner for e-commerce businesses aiming to scale and thrive.

Fully Accountable

Fully Accountable specializes in delivering fractional Chief Financial Officer (CFO) services and outsourced accounting solutions to e-commerce clients across the United States and Canada. The company’s foundation lies in its commitment to assisting business owners in gaining a deeper understanding of their profitability. This clarity enables businesses to make informed financial decisions and drive growth.

Fully Accountable outstanding performance has earned them numerous accolades, including recognition in the prestigious Inc 5000 list as one of America’s fastest-growing companies in 2020. With a focus on empowering e-commerce ventures, Fully Accountable stands as a trusted partner for achieving financial success.


Bookkeeper360 comprises a dedicated team based entirely in the United States, providing a comprehensive range of financial services that include bookkeeping, tax assistance, and advisory support to its valued clients. Their remarkable growth is evident through their consistent presence on the Inc 5000 list for the past three years, a testament to their dedication to serving small businesses across the United States.

In addition to its core services, Bookkeeper360 offers a tailor-made app, granting clients convenient access to their financial data and facilitating seamless communication with their Bookkeeping 360 team. With a focus on delivering top-notch financial solutions, Bookkeeper360 is a reliable partner for small businesses aiming to achieve financial success.

Bottom Line!

The remote bookkeeping service sector is experiencing an explosive surge in growth, attracting substantial investments worth hundreds of millions of dollars. Bench has secured an impressive $53 million in funding, while Pilot boasts a remarkable funding pool of over $100 million, with notable backers including Jeff Bezos. Similarly, Xendoo has raised $4.8 million in support of its endeavors. This pronounced influx of capital underscores the industry’s undeniable appeal for disruption, drawing the interest and investments of top-tier investors and venture capital firms anticipating its prosperous future.

The remote bookkeeping industry is poised for sustained expansion as the corporate landscape shifts towards the digital realm. This trend will likely render traditional bookkeepers and accountants progressively less relevant compared to their tech-savvy online counterparts.

Traditional bookkeeping professionals may grapple with the intricate intricacies of online businesses, such as e-commerce enterprises operating on platforms like Shopify, Woo Commerce, Amazon, eBay, Etsy, Walmart, and any emerging sales channels. In this evolving landscape, online bookkeeping companies are positioned to emerge as the undisputed champions, offering technical expertise tailored to the distinctive demands of online businesses.


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